Revocable Living Trusts

The Revocable Living Trust Plan

Perhaps the most commonly used trust today is the revocable living trust. This is special kind of trust that replaces the will as the core of the estate plan. When properly prepared and implemented, it can allow you to:

  • Decide who will receive your property, when you want, the way you want
  • Name the person to handle your affairs after death
  • Avoid the cost, delays and public advertising requirements of probate court process
  • Provide for your spouse and loved ones who depend on you for support
  • Choose the person to manage your assets if you're incapacitated
  • Name someone to manage assets for your minor children
  • Minimize the impact of taxes, fees and other costs
  • Safeguard the inheritance from free-spending children
  • Increase asset protection against future lawsuits, bankruptcy, divorce and remarriage
  • Preserve family harmony and avoid family arguments

As the name implies, a revocable living trust can be amended or updated at your request. Assets transferred (or "funded") into the trust remain within your complete control, and you can even revoke the trust and have the assets returned if desired.

Can You Benefit From A Revocable Living Trust?

The answer depends on your specific circumstances, needs and goals. While a revocable living trust can help even the most traditional families and provide value in simple situations, they are often even more important for blended families, disability planning, moderate to larger estates, or those who simply want to avoid the hassle of probate court.

At Emert Law Firm, LLC, we can help you find the right option to achieve your estate planning goals.

To get started, simply click here to schedule a free initial consultation now, or call us at 678-926-9284.

Emert Law Firm, LLC has offices in Duluth and to better serve your needs.